European shares propped up by firmer banking stocks

LONDON, March 9 (Reuters) - European shares made slight progress in early trading on Wednesday, as stronger banking shares propped up the region’s stock markets.

The pan-European FTSEurofirst 300 index, which fell 0.9 percent on Tuesday to around its lowest level in a week, edged up by 0.1 percent, as did the euro zone’s blue-chip Euro STOXX 50 index.

Shares in Credit Agricole rose around 1 percent after the French bank pledged to boost cost savings and synergies by 2019.

Drinks group Heineken also advanced 1.3 percent after Goldman Sachs raised its rating on the firm to “buy” from “neutral”.

However, Volkswagen shares fell as the German carmaker faced a subpoena from the U.S. Justice Department related to its diesel emissions probe, while Russia also said it would recall some VW models. (Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)